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Business performance management (BPM) (also known as corporate performance management (CPM) [2] enterprise performance management (EPM), [3] [4] organizational performance management, or performance management) is a management approach which encompasses a set of processes and analytical tools to ensure that an organization's activities and output are aligned with its goals.
Performance is a measure of the results achieved. Performance efficiency is the ratio between effort expended and results achieved. The difference between current performance and the theoretical performance limit is the performance improvement zone. Another way to think of performance improvement is to see it as improvement in four potential areas:
Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost.
High maturity process areas are significantly improved to reflect industry best practices, [1] including a new specific goal and several new specific practices in the process area that was renamed from Organizational Innovation and Deployment (OID) to Organizational Performance Management (OPM). Agile practices [2] have been included with an ...
Best practice is a feature of accredited management standards such as ISO 9000 and ISO 14001. [2] Some consulting firms specialize in the area of best practice and offer ready-made templates to standardize business process documentation. Sometimes a best practice is not applicable or is inappropriate for a particular organization's needs.
Beyond level 3, companies decompose process elements and start implementing specific supply chain management practices. It is at this stage that companies define practices to achieve a competitive advantage, and adapt to changing business conditions. SCOR is a process reference model designed for effective communication among supply chain partners.
Lean Six Sigma is a synergized managerial concept of Lean and Six Sigma. [5] Lean traditionally focuses on eliminating the eight kinds of waste ("muda"), and Six Sigma focuses on improving process output quality by identifying and removing the causes of defects (errors) and minimizing variability in (manufacturing and business) processes.
Operational standards often include pre-defined lists of standard performance measures. For example, EN 15341 [9] identifies 71 performance indicators, whereof 21 are technical indicators, or those in a US Federal Government directive from 1999—National Partnership for Reinventing Government, USA; Balancing Measures: Best Practices in Performance Management, August 1999.
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